E & F Shipping Limited

STERLING POUNDS 8,020,22 AND ALL OTHER M ONEYS DUE OR NEW SECOND TO BECOME DUE FR OM THE CHATERPORTY COMPANY AND/OR ASCOT ASSIGNMENT LEASING LIMITED TO THE CHARGE E UNDER THE TERMS OF A SECOND PREFENED P ANAMRIAN MORTGAGE DATED 10/2/89 A LOAN A GREEMENT DATED 22/1/88 AND PURSUANT TO A DEED OF ASSIGNMENT DATED 20/12/88 AND A SUPPLEMENTAL AGREEMENT DATED 10/2/89 AN D ANY OTHER DOCUMENT AS DEFINED THEREIN

STERLING POUNDS 6,600,000 AND ALL OTHER MONEYS DUE OR TO BECOME DUE FROM ASCOT L EASING LIMITED TO THE CHARGEE UNDER THE TERMS OF A LOAN AGREEMENT DATED 22/1/88 AS AMENDED BY A CURRENT AGREEMENT DATED 10/2/89 OR DEFINED THEREIN.

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FURTHER SECURING THE AGGREMENT OF ALL SU MS OF MONEY FROM TIME TO TIME OWING TO T HE BANK BY A/S KRISTIAN JEBSENS REDERI U NDER THE TERMS OF A FACILITY LETTER DATE D 25TH JUNE,1982, TWO MORTGAGES BOTH DAT ED 1ST OCTOBER,1982 AND UNDER THE TERMS OF THE CHARGE

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STERLING POUNDS 123,396,000 ALL OTHER MO NIES DUE OR TO BECOME DUE FROM THE COMPA NY TO THE CHARGEE UNDER THE TERMS OF A F INANCIAL AGREEMENT DATED 16TH JULY 1982

STERLING POUNDS 12,396,000 ALL OTHER MON IES DUE OR TO BECOME DUE FROM THE COMPAN Y TO THE CHARGEE UNDER THE TERMS OF A FI NANCIAL AGREEMENT DATED 16TH JULY, 1982

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FOR FURTHER SECURING US $ 11,090,625 AND ALL OTHER MONIES DUE OR TO BECOME DUE F ROM THE COMPANY TO THE CHARGEE SECURED B Y THREE MORTGAGES DATED 3-3-81

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ALL MOINES DUE OR TO BECOME DUR FROM THE COMPANY TO THE CHARGEE ON AN ACCOUNT CU RRENT PURSUANT TO A LOAN AGREEMENT & A D EED OF COVENANT BOTH DATED 3-3-81

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FOR FURTHER SECURING US $ 4,500,000 & AL L OTHER MONIES DUE FROM THE COMPANY TO T HE CHARGEE SECURED BY THREE MORTGAGES DA TED 3-3-81

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FURTHER SECURING U.S. $ 4000,000 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TER MS OF A LOAN AGREEMENT DATED 28TH JAN 19 81 AND A MORTGAGE DATED 30TH JAN 1981.

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FURTHER SECURING THE AGGREGATE OF ALL SU MS OF MONEY OWING TO THE MORTGAGEE SECUR ED BY THREE MORTGAGES DATED 13TH AUGUST 1980 UNDER THE TERMS OF A FACILITY LETTE R DATED 13TH AUGUST 1980

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FURTHER SECURING US $ 5, 488,500 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TER MS OF A LOAN AGREEMENT AND A MONTGAGE BO TH DATED 30.6.80

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FURTHER SECURING U.S. $ 6,500,000 AND AL L OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TE RMS OF A LOAN AGREEMENT DATED 13.6.80 & A MORTGAGE DATED 30.6.80.

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STERLING POUNDS 6,500,000 U.S. DOLLARS A ND ALL OTHER MONIES DUE OR TO BECOME DUE FROM PACIFIC NORSE SHIPPING LIMITED TO THE CHARGEE SECURED BY A MORTGAGE DATED 12TH JUNE 1980.

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STERLING POUNDS 250,000 U.S. DOLLARS AND ALL OTHER MONIES DUE OR TO BECOME DUE F ROM THE COMPANY TO THE CHARGES SECURED B Y A MORTGAGE DATED 13TH JUNE 1980

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FOR SECURING THE RESPECTIVE AMOUTS OF TH E U.S. DOLLAR EQUIVILENT OF UP TO STERLI NG POUNDS 855,600, US $ 3,000,000 THE U. S. DOLLAR EQUIVILANT OF UP TO STERLING P OUNDS 161,874, US $ 4,265, 625, US$ 4265 625, US $ 4,265,625 AND US $ 10,849,000 AND ALL OTHER AMOUNTS DUE UNDER FIVE VES SEL DEED OF COVENANT AND THE SECURITY DO CUMENTS.

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FOR FURTHER SECURING U.S. $ 5,000,000 AN D ALL OTHER MONIES DUE OR TO BECOMEN DUE OR TO BECOME DUE FROM THE COMPANY TO TH E CHARGEE SECURED BY TWO OTHER CHARGES B OTH DATED 16TH SEPT 1976

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DEED OF COVENANT DATED THE 15TH NOVEMBER 1976 AND CREATED BY JEFSEN DILLINGHAM S HIPPING LTD, FOR FURTHER SECURED U.S. $4 ,550,000 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARG EE SECURED BY ANOTHER CHARGE DATED 15 NO V 1976

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A DEED OF COVENANT DATED 10/7/73 AND CRE ATED BY KRISTIAN JEFSON UK LTD FOR FURTH ER SECURING STERLING POUNDS 2425,000 AND ALL OTHER MONIES DUE OR TO BECOME DUE F ROM THE COMPANY TO THE CHARGEE SECURED B Y ANOTHER CHARGE DATED 10/7/73.

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£2,281,600 AND ALL OTHER MONIES DUE FROM NILE STEAMSHIP COMPANY LTD TO THE CHARG EE UNDER THE TERMS OF AN AGREEMENT DATED 170772

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STERLING EQUIVQLENT OF JAPANESE YEN 1,10 6,895,000 AND

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FOR SECURED STERLING POUNDS 2,099,005 DU E FROM THE BY TO THE CHARGEE.

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2,622,000 DEUTSCHE MARKS

DEED OF COVENANTS FOR FURTHER SECURING D EUTULE MARKS STERLINGS POUNDS 6,992,000 DUE FROM THE COMPANY TO CHARGEE AND ALL OTHER MONIES DUE OR TO BECOME DUE UNDER THE TERMS OF A LOAN AGREEMENT DATED 10/4 /72 AND SECURED BY TWO CHARGES DATED 28/ 4/72.

STERLING POUNDS 4,370,000 DEUTSCLE MARKS

NORWEGION KRONER 1,780,000 DUE FROM THE COMPANY TO CHARGEE AND ALL OTHER MONIES DUE OR TO BECOME DUE SECURED BY A CHARGE DATED 14T H APRIL 1972.

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NORWEGION KRONER STERLING POUNDS 890,000 DUE FROM COMPANY TO CHARGEE AND ALL OTHER MONIES DUE OR TO BECOME DUE AND SECURED BY A CH ARGE DATED 14/04/72.

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NORWEGIAN KRONER STERLING POUNDS 4,450,000 DUE FRO M COMPANY TO CHARGEE AND ALL OTHER MONIE S DUE UNDER FINANCIAL AGREEMENT DATED 14 /4/72 AND SECURED BY CHARGE DATED 14/4/7 2.

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FOR FURTHER SECURING STERLING POUNDS 1,7 80,000 NONWEGIAN KRONEL & ALL OTHER MONI ES DUE SECURED BY A CHARGE DATED 11/10/7 1

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£1,295,000 AND ALL OTHER MONIES DUE OR T O BECOME DUE OR TO BECOME DUE FROM THE C OMPANY TO THE CHARGEE SECURED BY A CHARG E DATED 5/6/70

BOND AND ASSIGNATION IN SECURITY FOR SEC URING THE SUMS OF STERLING POUNDS 1.295, 000 AND ALL OTHER MONIES DUE OR TO BECOM E DUE FROM THE COMPANY TO HAMBROS BANK L TD UNDER THE TERMS OF THE FINANCIAL AGRE EMENT DATED 15 OCT 1969 AND 29 DEC 1969.

BOND & ASSIGNATION IN SECURITY FOR SECUR ING STERLING POUNDS 1,295,000 WITH A COM MITMENT COMMISION OF 1% & ALL OTHER MONI ES DUE OR TO BECOME DUE FROM THE COMPAN Y TO THE BANK UNDER THE TERMS OF A FINAN CIAL AGREEMENT DATED 15.10.69.

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DEED OF COVENANT FOR FURTHER SECURING ST ERLING POUNDS 1,132,000 & ALL OTHER MONI ES DUE ETC. FROM THE COMPANY TO THE CHAR GEE SERCURED BY ANOTHER CHARGE DATED 16T H DEC 1968.

STATUTORY MORTGAGE FOR SECURING ALL MONI ES DUE ETC FROM THE COMPANY TO THE CHARG E ON ACCOUNT CURRENT UNDER THE TERMS OF TWO FINANCIAL AGREMENTS DATED 8TH MARCH, 1968 & A DEED OF COVENANT ALSO DATED 16 TH DECEMBER, 1968.

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MONIES DUE AND PAYABLE UNDER THE TERMS OF A FINANCIAL AGREEMENT DATED 8/3/68

MONIES DUE AND PAYABLE UNDER THE TERMS O F FINANCIAL AGREEMENT DATED 8/3/68

ALLMONIES DUE ETC SECURED BY ANOTHER CHA RGE DATED 8/3/68

STATUTORY MORTGAGE FOR SECURING ALL MONI ES DUE, ETC, UNDER THE TERMS OF TWO FINA NCIAL AGREEMENTS DATED 8TH MARCH 1968

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